What is the budgetary equation? Briefly describe the components of each side of the equation.

The Congress appropriates $5 million to fund the fiscal year 2013 activities of a bureau within a department. Can the bureau director immediately place a purchase order to buy needed supplies? If not, why not?

How does the financing of Social Security differ from the financing of most state and local government pension plans?

What are the two components of an agency’s net position? Describe the major causes of the year-to-year changes in each component.

Describe four financial statements prepared by federal agencies.

Multiple choice

1. Which funds are used by federal agencies to account for receipts of resources from specific sources, earmarked by law for special purposes?

• a. Special Revenue Funds
• b. Trust Funds
• c. Revolving Funds
• d. Deposit Funds

2. Who sets federal accounting standards?

• a. Congress
• b. Financial Accounting Standards Board (FASB)
• c. Federal Accounting Standards Advisory Board (FASAB)
• d. Governmental Accounting Standards Board (GASB)

3. What does an unliquidated obligation represent?

• a. Resources that cannot be spent for any purpose
• b. Resources that have already been disbursed
• c. Resources that must be returned to the Treasury
• d. Resources earmarked for a specific purpose

4. Who makes apportionments of appropriations?

• a. Congress
• b. Office of Management and Budget (OMB)
• c. The agency
• d. The department of which the agency is a part

5. What is the function of commitments?

• a. To legally encumber an allotment
• b. To formally disclose purchase requests before actual orders are placed
• c. To represent the authority to spend money for a particular project
• d. To represent legally enforceable promises to specific vendors

6. What account is used to show that an agency has requested payment by the Treasury to vendors?

• a. Fund balance with Treasury
• b. Accounts payable
• c. Disbursements in transit
• d. Processed invoices

7. To prepare the “Status of Budgetary Resources” section of the Statement of Budgetary Resources, you would use the balances in which of the following accounts?

• a. Expended authority, undelivered orders, and commitments
• b. Cumulative results of operations, undelivered orders, and disbursements in transit
• c. Fund balance with Treasury, expended authority, and undelivered orders
• d. Fund balance with Treasury, undelivered orders, and commitments

The terms appropriation, apportionment, and allotment are used in the federal budget process. Describe what each is and which unit of the government makes it.

Sketch a graph of the surface and briefly describe it in words.

$$x^2+y^2+z^2=9$$

Consider the surfaces that are defined by the following equations .

Identify and briefly describe the surface.

Consider the surfaces defined by the following equations.

Identify and briefly describe the surface.

Briefly summarize the relationship between Doppler shift and the speed of a moving object.

Will a monopoly that maximizes profit also be maximizing revenue? Will it be maximizing output? Briefly explain.

Briefly explain its connection to the imperialism of 1850–1914. 1.imperialism

Consider the surfaces defined by the given equations.

Identify and briefly describe the surface.